HiTech
Short

GBPJPY SHORT TRADE SETUP

FX:GBPJPY   British Pound/Japanese Yen
276 19 3
Detailed on the chart
InfinityForex
2 years ago
already in buddy :-)
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HiTech PRO InfinityForex
2 years ago
nice :)... based on your own analysis?
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InfinityForex HiTech
2 years ago
yes :-)
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Mythril
2 years ago
How about if it closes above the resistance?
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HiTech PRO Mythril
2 years ago
There was a spike above the resistance testing 178.38. Only close above that could push it further up
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FullTimeTrader
2 years ago
Hello, be carefull, the bullish momentum is becoming strong on all GBP pairs. Take a look at D1 charts of GBP related pairs: GPBNZD, GBPAUD, GBPCAD, GBPCHF... this can give you a better direction. Best regards
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HiTech PRO FullTimeTrader
2 years ago
Agree on gbp strength, but jpy should be stronger for few days at least, after that trade will expire
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FullTimeTrader HiTech
2 years ago
I wish this trade will work. From my personal experience its better to think consistently: we cannot have a bullish bias on all GBP pairs and a bearish bias on this one. It a game of probabilities: now a bullish direction is more probable
+1 Reply
HiTech PRO FullTimeTrader
2 years ago
again agree, but if strategy says go, I go ... these are the rules, in any case the exposure is minimal on this setup
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Salty FullTimeTrader
2 years ago
I was always a big proposer of divergences, and on stochastics seeing that H4 and Daily are showing bullish divergence and US CB indicator showing a better than expected improvement I would say that it is more probable to see an uprise toward 38.2 fibonacci, anyway this idea may still work in a short-term setting.
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Salty Salty
2 years ago
Daily and H4 Bullish Divergence + Fundamentals, Wait for Tankan

Just sharing my chart
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HiTech PRO Salty
2 years ago
Thank you for sharing, but consider tomorrow's news on JPY, I think it will give it a lot of strength, making GBPJPY weaker than any other GBPXXX
+1 Reply
Salty HiTech
2 years ago
Partially agree, I'd would say EURJPY is the most fragile, technically and fundamentally as well. Anyway I hope that your trade will be a winner one.
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HiTech PRO Salty
2 years ago
Must disagree on EURJPY being the weakest amongst JPY pairs, I'd say its NZDJPY
+1 Reply
Salty HiTech
2 years ago
Oh yeah, you're right, I wasn't watching that one. :)
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HiTech PRO Salty
2 years ago
I almost had confirmation few days back but as it moved to fast i decided not to enter due to poor risk reward
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Salty HiTech
2 years ago
I'd say a short order at 89.39 with an SL of just 20 pips wouldn't be that bad. And take 88.93 as target (61.8 fib)
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Hi.
This is my analysis of NZDJPY on the W1.
Posted this idea a week ago and is currently nearing my BUY zone.

Thought i would input my comment here since we are on NZDJPY :).

$NZDJPY BULLISH 3 BAR FORMATION COMPLETED
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HiTech PRO PriceActionTrading
2 years ago
On weekly seems like a range at the moment, but good luck
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